The “Facebook Effect” on California Real Estate

Since announcing its IPO, Facebook has been dominating business headlines. But California real estate professionals will confirm that Facebook has also been dominating their own conversations as housing experts try to determine the effect that this historic trading event might have on the local California housing market. As one real estate agent told ABC News in a recent report, “There’s no way there’s not going to be an effect.”

The headquarters of Facebook is located in Menlo Park, meaning the neighboring Palo Alto area is expected to see the most action as a result of the company’s public debut. Already one of the area’s hottest neighborhoods, Palo Alto is home to younger money, a vibrant downtown and excellent schools.

According to AOL, real estate professionals are preparing for new Facebook millionaires to flood the Palo Alto real estate market with a buying fervor and – possibly – a taste for luxury, unlike their frontman Mark Zuckerburg who resides in a modest bungalow. They are calling it the “Facebook Effect.”

“‘Facebook effect’– the anticipated demand for high-end housing following the company’s May IPO. Since the beginning of the year, prices have climbed more than 10 percent in Palo Alto, Calif., where the company is headquartered.”

But inventory is still low, and experts are still unsure whether homeowners are waiting for the IPO to really take off. As a luxury real estate company based in Beverley Hills, Hurwitz James Company is also curious to see the results of the “Facebook Effect,” and we want to hear your opinion. Do you think homeowners are strategically waiting? Will Palo Alto become an infamous Facebook community?

facebook effect on real estate

Photo via FreeDigitalPhotos.net

The Magnificent Bradbury Estate Now Offered at $78.8M

Upon entry into the guard-gated Bradbury Estates in California you’ll be greeted by breathtaking views of the city, canyon and ocean to behold an equally breathtaking compound. This 8-acre regal masterpiece is the result of over 8 years of construction by master craftsmen who employed state of the art engineering, scrupulous attention to detail and the world’s finest materials.

A dramatic 600-foot Blue Stone private entry will bring you to the estate’s main house, a residence with 7 bedrooms, 10 baths and approximately 30,000 square feet of living space plus 3,000 square feet of Loggias.  If the 3D theater, 2,000-bottle wine cellar, oak paneled elevator and leather-paneled poker room don’t impress you, surely the French limestone finishes, 40-foot vaulted ceilings, hand-painted fresco domes and Venetian plaster masterpieces will.

As if this was not enough, the estate also has a detached guesthouse with full kitchen and exquisite finishes and amenities all above the 10-car garage. While on your way to the guesthouse, you won’t be able to overlook the nearly 1-acre of porches, decks, loggias, and French Limestone walkways as well as an infinity pool, 15-person spa and temperature-controlled trout pond with a 2-story waterfall.

The Bradbury Estate is a true trophy property and has never been offered for sale, but now holds the listing price of $78,800,000. To schedule a showing please contact Hurwitz James Company in Beverley Hills at 888-681-5902.

Photos via Hurwitz James Company

The Enchanting Church Estate Vineyards French Chateau, $14.5M

Make your vineyard dreams come true. The Church Estate Vineyards French Chateau is a nine acre Malibu hillside estate that is distinguished by its unique melding of old-word charm, refined comfort and world-class sophistication. With a gorgeous vineyard, beautiful barn, tennis courts and an 8,000-square foot grand residence inspired by historical European design and featuring authentic artisan finishes, this estate is unlike any other in California.

The Normandy-style residence boasts an expansive great room with 1911 painted Steinway grand piano, an elegant dining room, a custom chef’s kitchen, a coffered ceilinged library, a 19th century in-laid pool table, exquisite guest bedrooms, private Carriage House suite and a 4,000-bottle cherry wood wine cellar with first-century Cypress flooring. The authentic design that upholds a prodigious nostalgia of a glorious past is completed by a 15th-century stone fireplace imported from France, a vast collection of antiques, walnut flooring, antique ash beams and 200-year-old French paver floors.

Panoramic views of the tranquil countryside and nearby waters of the Pacific are just the start of the estate’s stunning landscape that has to be seen to truly grasp its beauty. To schedule a showing with Bob Hurwitz to see the Church Estate Vineyards French Chateau currently listed at $14.5M, contact Hurwitz James Company at 888-681-5902.

 

 

Photos via Hurwitz James Company